MEMO Financial Services, Inc dba MEMO MEMO Money Order Bond
Money order is an order of payment in a pre-specified amount which needs to be paid before use, guaranteeing the compensation of the recipient and the issuer. The sum is printed in paper and can be cashed out by the recipient to actual money. Normally, you can get this from banks, post offices, supermarkets, and other accepting financial institutions. This type of transaction typically comes with a small fee.
What is the MEMO Financial Services, Inc dba MEMO MEMO Money Order Bond?
MEMO is a popular money lending service company operating in several states in the US. The MEMO Financial Services, Inc dba MEMO MEMO Money Order Bond guarantees the Obligee’s compensation should businesses fail to remit collected sums to the issuing company.
Why do you need the MEMO Financial Services, Inc dba MEMO MEMO Money Order Bond?
The bond is a pre-requisite prior the beginning of a business or an individual that will be an affiliate of MEMO Financial Services Inc. In addition, the applicant is guaranteed the good reputation of their company; financial security and credential boost; available full line of credit; confidentiality of your transactions - unless required by law; and, access to professional advice counselling from lawyers, estimators, and similar professionals.
How does the MEMO Financial Services, Inc dba MEMO MEMO Money Order Bond work?
The parties in the agreement are the Principal (money order seller), Obligee (MEMO Financial Services, Inc dba MEMO), and Bond Company or Obligor (surety bond carrier). The bond must be filed with the State of Oregon and must be issued by a surety bond provider certified by the state’s Insurance Department.
The Surety Company will guarantee the compensation (performance bond) of the Obligee in case the Principal fails to deliver agreed upon services or violate any licensing provisions. The Surety Company will receive and assess the validity of all public claims where claims may only amount to the total penal sum arranged in the bond form. The Principal will then reimburse all expenses covered by the Bond Company as well as the premium rates imposed along with the coverage.
How much does it cost?
The MEMO Financial Services, Inc dba MEMO MEMO Money Order Bond typically has premium rates between 1.5% and 8.0% of the bond amount, the latter being the worst rate you can get. The cost of it will depend on the individual’s/business’ credit score, industry experience, business history, and the surety provider’s background.
How can I secure the bond?
Transact with a reputable surety company today and secure your MEMO Financial Services, Inc dba MEMO MEMO Money Order Bond the fast and easy way. If you have more questions or are in need of more information, get in touch with us today!
Make sure you have gathered and provided accurate information on the following for the speedy processing of your application:
- Nature of your business
- Credit Score
- Financial strength
Rest assured our expert surety bond agent will guide you from the time of your application until the issuance of your bond. Once the assessment is done, we will promptly issue your bond and send it your way!